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of <h1>Supreme Court Clarifies Tax Rules: Gratuity, Depreciation, Partnership Assets, Business Losses, and Firm Registration Guidance.</h1> The circular from December 13, 1985, highlights recent Supreme Court decisions on various tax-related issues. Key rulings include: gratuity provisions not deductible unless conditions are met (Shree Sajjan Mills Ltd. vs. CIT); depreciation allowed for technical knowledge expenses (Scientific Engg. House vs. CIT); introduction of assets into a partnership firm as capital is a transfer but not necessarily taxable (Kartikeya Sarabhai vs. CIT); unabsorbed business loss does not take precedence over current depreciation (CIT vs. Mother India Refrigeration Industries); treatment of spouse or minor's business loss for carry forward (CIT vs. J.H. Gotla); and defective registration applications result in denial of firm registration (CIT Patiala vs. M/s. Jagannath Pyarelal). These decisions should guide officers in handling pending appeals and references.
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